Veralto (NYSE:VLTO) Given New $116.00 Price Target at Stifel Nicolaus

Veralto (NYSE:VLTO) had its price target decreased by investment analysts at Stifel Nicolaus from $117.00 to $116.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 14.04% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group began coverage on shares of Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price on the stock. BMO Capital Markets upped their price target on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Royal Bank of Canada lifted their target price on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, Citigroup reduced their target price on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Veralto has a consensus rating of “Hold” and an average price target of $113.18.

Veralto Stock Down 1.5 %

VLTO stock traded down $1.55 on Friday, reaching $101.72. 261,452 shares of the company traded hands, compared to its average volume of 1,248,256. The firm has a fifty day simple moving average of $103.99 and a 200-day simple moving average of $106.00. Veralto has a one year low of $75.05 and a one year high of $115.00. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. The company has a market cap of $25.16 billion, a P/E ratio of 31.41, a price-to-earnings-growth ratio of 4.31 and a beta of 1.06.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 earnings per share. Research analysts anticipate that Veralto will post 3.48 earnings per share for the current year.

Insider Activity

In related news, SVP Surekha Trivedi sold 752 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the transaction, the senior vice president now owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. This trade represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Veralto

Several large investors have recently made changes to their positions in the business. State Street Corp grew its stake in Veralto by 9.8% during the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock worth $1,074,654,000 after buying an additional 860,608 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Veralto by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock valued at $654,232,000 after acquiring an additional 558,393 shares during the last quarter. Nordea Investment Management AB lifted its stake in Veralto by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after buying an additional 1,009,170 shares in the last quarter. FMR LLC increased its stake in Veralto by 5.1% in the 3rd quarter. FMR LLC now owns 3,329,717 shares of the company’s stock valued at $372,462,000 after buying an additional 162,347 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Veralto by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,885,996 shares of the company’s stock valued at $322,827,000 after purchasing an additional 11,430 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

About Veralto

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.